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Gotham Plaza 159 E 125th St
36,212 SF of 4-Star Office/Retail Space Available in New York, NY 10035
Highlights
- Flexible retail/office space with entire floor availability in a prime, mixed-use property.
- Experience an open floor plan with high ceilings and a TI allowance for qualified tenants, ideal for office, retail, and non-profit uses.
- Building features include ground-floor retail with national tenants such as Bank of America, on-site parking, 24-hour access, and elevator service.
- Situated along a prominent Harlem commercial corridor with heavy foot traffic and easy bus, subway, and Metro-North Railroad accessibility.
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| 3rd Floor | 36,212 SF | Negotiable | Upon Request Upon Request Upon Request Upon Request Upon Request Upon Request | Negotiable |
3rd Floor
Suitable for both office or retail with approximate divisions of 17k available. Floor serviced by both elevators and escalator. TI available for qualified Tenants. Leasehold condominium opportunity is possible for non-profits. Parking in building. Subway and Metro North Railroad nearby. 24/7 day access. High ceilings.
- Fully Built-Out as Standard Office
- Mostly Open Floor Plan Layout
- Fits 87 - 277 People
- Space is in Excellent Condition
- Central Air Conditioning
- High Ceilings
- Will Divide - 8,598 RSF & 8,755 RSF - See Plan
- Long term
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
PROPERTY FACTS FOR 159 E 125th St , New York, NY 10035
| Property Type | Retail | Year Built | 2002 |
| Property Subtype | Storefront Retail/Office | Parking Ratio | 1.66/1,000 SF |
| Gross Leasable Area | 122,900 SF |
| Property Type | Retail |
| Property Subtype | Storefront Retail/Office |
| Gross Leasable Area | 122,900 SF |
| Year Built | 2002 |
| Parking Ratio | 1.66/1,000 SF |
About the Property
159 E 125th Street is a mixed-use commercial property ideally situated along a major thoroughfare in the heart of Harlem. The three-level property contains 122,900 square feet on the north side of East 125th Street between Lexington Avenue and Third Avenue. National retail tenants, such as Taco Bell, Foot Locker, and Bank of America, are located on the ground floor, and the upper floors are reserved for office/retail and residential space. Property features include 24-hour building access, on-site parking, high ceilings, and central air conditioning. The entire third floor is available for lease with reasonable divisions considered. This space, serviced by an escalator and elevators, is ideal for professional office, retail, and non-profit use. The 125th Street Corridor runs from Broadway to Third Avenue and is Harlem's epicenter of culture and architecture. With a new wave of commercial tenants throughout the area, it is now the site of considerable revitalization and development. 159 E 125th Street is easily accessible by car, multiple subway lines, buses, and the Metro-North Railroad.
- Metro/Subway
- Signage
- Tenant Controlled HVAC
Marketing Brochure
DEMOGRAPHICS
Demographics
Nearby Amenities
Restaurants |
|||
|---|---|---|---|
| Baskin Robbins | - | - | 2 min walk |
| Q & N Food | American | $ | 3 min walk |
| Dunkin' | Cafe | - | 2 min walk |
Retail |
||
|---|---|---|
| Apple Bank | Bank | In Building |
| Foot Locker | Shoes | In Building |
| Bank of America | Bank | In Building |
| Foodtown | Supermarket | 6 min walk |
| Health Mart Pharmacy | Drug Store | 6 min walk |
Hotels |
|
|---|---|
| aloft Hotel |
125 rooms
3 min drive
|
| Renaissance |
211 rooms
3 min drive
|
| Best Western Plus |
101 rooms
4 min drive
|
Leasing Agent
Leasing Agent
Barry Goodman, Senior Managing Director
As an owner’s representative, Goodman has acted on behalf of many prominent landlords and properties, including The Milstein Organization, Lawrence Ruben Company, The New York Power Authority, The Halpern Family, The Related Companies and Rose Associates. Some of Goodman’s most significant representations include 1 Dag Hammarskjold Plaza; 625 Madison Avenue; 1372 Broadway; 600 Madison Avenue; 123 Main Street, White Plains; the offices at the Continental (883 Avenue of the Americas); and 451 Park Avenue South.
Goodman represents a diverse group of tenants, including clients from the financial, foreign diplomacy, not-for-profit, healthcare, entertainment, legal and retail sectors. Among the most noteworthy clients he has worked with are Emigrant Savings Bank, CIGNA, the governments of Peru, Ecuador, Guatemala, Panama and Kenya, The New York Power Authority, Lifespire Inc., Columbia University, Mount Sinai Hospital, Montefiore Hospital, the Recording Industry Association of America, Bed Bath & Beyond, Dewey Ballentine, Raymond James Financial, the American Association of Retired Persons, Lan Chile Airlines, Avianca Airlines, The Charles Wang Foundation, The Benetton Family and Cipriani.
Goodman has also arranged numerous sales, including the disposition of 1811 Metzerott Road, a 90-unit multi-family complex in Adelphi, MD. He has completed sales to Berkshire Bank for its New York headquarters, New York Road Runners Club, Sale of 1180 Morris Park Avenue to Montefiore Hospital, the Peruvian Consulate in New York, the United Arab Emirates Mission to the United Nations, the Oaktree Plaza on Long Island and the sale of a commercial condominium to the government of Ecuador at 800 Second Avenue.
Goodman is a member of the Real Estate Board of New York, the New York Real Estate Board Plaza Committee, The Americas Society and the Young Men’s Real Estate Division of the Albert Einstein College of Medicine. He served on the subcommittee on Budget Finance and Taxation for the Mayor’s Economic Development Advisory Committee and is on the advisory board of Neighborhood Housing Services of New York and is on the board of directors of The Shield Institute.
About the Owner
-
Barry Goodman -
Newmark
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Gotham Plaza | 159 E 125th St
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